Chinalco to Increase Stake in Aluminum Corporation of China

An update from Aluminum of China ( (HK:2600) ) is now available.

Aluminum Corporation of China Limited announced that its controlling shareholder, Chinalco, along with its concert parties, plans to increase their shareholdings in the company. The proposed increase involves purchasing A shares and H shares worth between RMB1,000 million and RMB2,000 million, not exceeding 2% of the company’s total share capital. As of the latest disclosure, Chinalco has already increased its shareholdings by approximately 1.05% of the total issued share capital, amounting to around RMB941 million. However, there is a risk that the plan may not be fully implemented due to potential changes in market conditions.

The most recent analyst rating on (HK:2600) stock is a Buy with a HK$6.80 price target. To see the full list of analyst forecasts on Aluminum of China stock, see the HK:2600 Stock Forecast page.

More about Aluminum of China

Aluminum Corporation of China Limited, also known as Chalco, operates in the aluminum industry, focusing on the production and distribution of aluminum products. The company is a major player in the market, with a significant presence in both the Shanghai Stock Exchange and the Hong Kong Stock Exchange.

YTD Price Performance: 4.01%

Average Trading Volume: 47,036,469

Technical Sentiment Signal: Buy

Current Market Cap: HK$113.7B

For an in-depth examination of 2600 stock, go to TipRanks’ Stock Analysis page.